Wednesday, 30 September 2015

Hotel building in Alicante up for public auction

On 14 October in the notary of Alicante an auction of the property
that currently hosts four star Eurostars Lucentum hotel located in the Avenue
Alfonso X opposite the Central Market, in the heart of the city. The hotel occupies
the rented building of ten floors and 168 rooms that many remember as
Alicante's historic headquarters Banco de Alicante.

The property belongs to Time Futuro SA, a Valencian company
that maintains a debt of around 10 million euros with commercial Promontoria
Holding, an investment fund that bought the credit from SAREB. Nonpayment has
caused conducive foreclosure auction and was announced in the Official Gazette
of September 3. The auction value of the property amounts to more tan 18 million
euros.

The Lucentum hotel opened in 2002 under the umbrella of the
Hesperia chain, with a view to serve the flow of customers who atended the
Conference Centre that the City, then governed by Luis Diaz Alperi had planned to erect hundred meters from the
hotel. Despite the failure of that project, which generated a strong public
response and ended up in the courts, the establishment has continued to operate
with a brief parenthesis, since the alliance with NH Hesperia in 2010.

A few months later, in early 2011, the Hotusa chain signed a
lease with the owners, which expired and reopened the establishment under the
name it still known for the Eurostars Lucentum, one of nine existing four star
hotels in the city.